Bugesera International Airport works kicks-off
Written by: Administrator
Wednesday, August 9th, 2017, 14:53
The construction works of the highly anticipated Bugesera International Airport was officially launched on Wednesday by President Paul Kagame laying a foundation stone at the construction site.
This follows the signing of an agreement in September 2016 between the government of Rwanda and Mota Engil Africa, a Portuguese construction firm.
The Portuguese firm will construct and complete the first phase in December 2018 and later run the facility’s operations for 25 years with an option to extend by another 15 years.
The facility is initially targeting to handle 1.7 million of passengers every year, and will later be upgraded to accommodate 4.5 million passengers annually at an additional cost of $400 million.
The $818-million airport will be in position to accommodate the growing air traffic as the country is becoming a major conference and business hub.
Upon completion of the first phase, expansion works will be commenced to increase the airport’s capacity to 4.5 million passengers per year.
Rwanda this year sold their stake in I&M Bank Rwanda with the proceeds going into investments as initial equity in Bugesera International Airport and received Rwf11.5 billion from sale.